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Deutsche Bank (DBKGn.DE) has unveiled a series of measures in response to a 30% drop in fourth-quarter profit.
The bank will cut 3,500 jobs, primarily in back-office roles, as part of its ongoing restructuring efforts.
This marks the first time Deutsche Bank has quantified the number of job cuts. The move comes amid broader initiatives to enhance shareholder value.
Share Buyback, Dividends, and Investor Returns:
Deutsche Bank plans a share buyback and dividend payouts totaling €1.6 billion ($1.73 billion) during the first half of the year to provide returns to investors.
The bank’s decision to return capital to shareholders reflects its commitment to rewarding investors while navigating a challenging economic environment.
The bank has also revised its revenue growth outlook and raised confidence in meeting its 2025 targets.
Financial Performance and Analyst Expectations:
Despite a 30% drop in fourth-quarter profit, Deutsche Bank’s net profit attributable to shareholders was €1.26 billion, surpassing analyst expectations.
The bank’s full-year profit of €4.21 billion exceeded analyst projections and marked the 14th consecutive quarter and fourth consecutive year of profits.
The results set the stage for potential challenges in 2024, with Deutsche Bank expressing optimism about meeting its goals despite potential headwinds.
